EOS announces launch of Tether [USDT] on its blockchain as it receives support from Coinbase


EOS, the fifth largest token on CoinMarketCap was riding the bull as the coin noted a growth of almost 20% after the major fall. The market sentiment was pro-EOS when Coinbase announced support for the coin on its retail site and applications.

In the latest update from the EOS ecosystem, Paolo Ardoino, the CTO of Bitfinex, in an interview with CCN, announced that Tether [USDT] would be launching on the EOS blockchain. In February, the exchange had announced the launch of eosfinex, a crypto-asset exchange which would be built on top of the EOS protocol, reported CCN. With Tether expanding its reach to various blockchains, the world’s largest stablecoin would add another feather on its cap. Tether announced that the launch through a tweet,

“Following the widespread success of Tether across Omni and Ethereum, we are delighted to announce our launch on EOS.”

Following these updates, Ran NeuNer, the host of CNBC’s crypto-trader also took to Twitter and informed the crypto-community about the blockchain-powered competition to Twitter that would enter the market through EOS’s founding company.

“Block one, the founding company of the EOS chain is launching a blockchain powered competitor to Twitter. Participants will be rewarded for engagement using tokens that represent a portion of the ad revenue.”

EOS faced a massive fall hours before it pumped. According to the Trading View chart of Binance, the coin plunged by over 20% within a period of five hours. The price of the coin fell from $8.54 to $6.78. However, as the announcement of Coinbase was made, the coin started picking up momentum and almost recovered its losses.

Source: Trading view

Source: Trading view

At press time, EOS was valued at $8.30, with a market cap of $7.61 billion. The 24-hour trading volume of the coin was noted to be $5.51 billion as it reported a 12.01% growth over the past day. Over the past seven days, EOS noted a 28.72% growth and continued to grow by 0.67%, within an hour.

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